After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
The airline is in the process of getting the final nods from DGCA and is planning to operate six flights in Phase-I.
With Air India's July 31 deadline to join Star Alliance approaching, senior officials of the global umbrella body of airline and those from the national carrier would soon meet Indian government officials to discuss the progress made in this direction.
Rono J Dutta, former chief of the world's biggest carrier United Airlines, has taken over as president of Air Sahara in place of Uttam Kumar Bose.
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As per the FIPB agenda, the proposal will be taken up on October 18.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
SpiceJet has decreased its domestic services by 31 per cent to 2,995 weekly flights in the upcoming winter schedule as compared to 4,316 weekly flights that it got approved for the winter schedule of 2019, the aviation regulator DGCA said on Thursday. Meanwhile, Vistara, another private carrier, has increased its domestic services by 22 per cent to 1,675 weekly flights as compared to 1,376 weekly flights for 2019 winter schedule, the regulator added. The winter schedule begins on October 31 of a year and ends on March 26 next year.
Richard Branson-promoted Virgin Atlantic Airways is interested in investing in the Indian civil aviation sector once the Union government
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
A right-wing group on Thursday vandalised the office of Pakistan International Airlines in New Delhi prompting Islamabad to take up the issue with the ministry of external affairs.
Ninety years later, BA counts the country as its second-biggest overseas market after the US.
The Wadia Group-promoted budget carrier Go Airlines (India), or GoAir, is gearing up to launch international operations by the end of this financial year or early the next.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Domestic air passenger traffic was back to the growth trajectory in June amid the falling number of COVID-19 cases in the country with around three million passengers flying on local routes in the previous month as against around two million in May, a report said on Tuesday. Though there is some recovery observed in June, stress on demand continues, driven largely by the second wave of the pandemic, limiting travel to only necessary travel, credit rating agency ICRA said in its report. On a sequential basis, domestic passenger traffic was up 41-42 per cent in June over May.
Airlines have opposed the rules that make it compulsory for them to pay compensation to passengers in case a flight is delayed by more than four hours
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Lufthansa has terminated the services of 103 India-based flight attendants after they allegedly sought "job assurance" from the management while the German airlines group had offered them leave without pay option for two years, sources close to the developments said.
Together with Jet Airways we will have 61 flights to Amsterdam and Paris during the winter season. That also makes us the second largest airline group after Lufthansa, which has 67 weekly flights, and we are catching up to become the first, says KLM CEO Pieter Elbers.
Apart from Air India, the implementation of the airport hub project would involve the airport authorities, other Star Alliance partner airlines which operate from the two airports and ground handling agencies, among others, to make it easier for smooth transfer of passengers from one flight to another.
The year gone by has also forced all airlines to turn the lens sharply on their own costs, workings and internal dynamics, opening their eyes to their vulnerabilities. Fewer, leaner, nimbler players will emerge from the carnage.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
Jet Airways, IndiGo and GoAir achieved operating profits of Rs 122.6 crore (Rs 1.22 billion), Rs 795.8 crore (Rs 7.95 billion) and Rs 85.1 crore (Rs 851 million) respectively during the same period, Minister of State for Civil Aviation K C Venugopal said in reply to a question.
A group of Air India unions on Friday asked Civil Aviation Minister Praful Patel to fix the accountability on those who are "sabotaging" the airlines merger process
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
People have said they would be inclined to travel for leisure during the festival and year-end season.
Marriott has the best breakfast in town. New Delhi airport has the best stores. Kishore Singh on the good, bad and worst among hotels, airports and airlines.
The country's largest domestic budget carrier IndiGo on Wednesday announced the appointment of Pieter Elbers as its chief executive officer, replacing incumbent Ronojoy Dutta. Seventy-one year old Dutta, who came to helm the airline in January 2019, has decided to retire on September 30, after guiding the airline through the turbulent Covid period, IndiGo said in a statement. Elbers' appointment, which is subject to regulatory approvals, will be effective from on or before October 1, it said.
The new plan is likely to be discussed in the meeting of the group of ministers to be held next week.
It has been lowered to 'IND BBB+' from 'IND A-', besides placing the rating on 'Rating Watch Negative' (RWN).
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The proposal of Tatas and Singapore Airlines for a new joint venture, entailing foreign investment of $49 million, is likely to come up before the Foreign Investment Promotion Board for approval on October 18.
Prime Minister Manmohan Singh on Wednesday promised that wages and appropriate perks would be paid to Air India employees at the earliest after the financial problems of the ailing carrier found a resonance in Lok Sabha with members raising concern over non-payment of salaries.
The Congress leader is also being probed by ED in two separate money-laundering cases of Aircel-Maxis and INX Media.
'All these incidents go to show that the day of the anodyne, apolitical corporation is running out fast,' says Kanika Datta.
The issue of equity infusion in Air India will be taken up by the Cabinet shortly and a cabinet note will be prepared in two weeks.
"Tata Sons board is meeting tomorrow (Friday) to consider the proposal to bid for Jet Airways," people in the know of the development told PTI.
In the biggest aviation takeover in India, Jet Airways has struck a deal to buy Sahara Airlines for Rs 2,300 crore (Rs 23 billion), a move that would help Naresh Goyal promoted carrier to become the biggest domestic carrier.
The decision on additional grant would also be taken keeping in view the high cost debt 'both current and long term' taken by Air India.
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